DY. COMMISSIONER OF INCOME TAX , CENTRAL CIRCLE-2, SURAT vs. BETEX INDIA LIMITED, SURAT

In the result, Ground No. 4 to 6 raised by the Revenue in ITA

Bench: Shri Pawan Singh, Hon'Ble & Dr. A. L. Saini, Hon'Ble Accountnat Member (Physical Court Hearing) Sl.

36. In the case of CIT Vs Jalan Hard Coke Ltd (95 taxmann.com 330), the Hon’ble Rajasthan High Court noted that the assessee had furnished the details of the share applicants but expressed its inability to produce the share applicants before the AO for examination. The Hon’ble High Court held that mere non-appearance of share applicants could

AMRUT SAROVAR,SURAT vs. PR. COMMISIONER INCOME TAX(CENTRAL), SURAT

In the result the grounds of appeal raised by the assessee in all three assessment years are allowed

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini

vii) Non-initiation of penalty under section 271B&271D of the Act ( in all three AYs),  (viii) Non-verification of loan availed from ManishbhaiSheladiya (in AY 2014-15 only). 4. The ld. PCIT recorded that the assessee was given opportunity of being heard on 05.03.2021 and on 12.03.2021, however, the assessee neither attended the hearing nor filed written submission

AMRUT SAROVAR,SURAT vs. PR. COMMISIONER INCOME TAX(CENTRAL), SURAT

In the result the grounds of appeal raised by the assessee in all three assessment years are allowed

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini

vii) Non-initiation of penalty under section 271B&271D of the Act ( in all three AYs),  (viii) Non-verification of loan availed from ManishbhaiSheladiya (in AY 2014-15 only). 4. The ld. PCIT recorded that the assessee was given opportunity of being heard on 05.03.2021 and on 12.03.2021, however, the assessee neither attended the hearing nor filed written submission

AMRUT SAROVAR,SURAT vs. PR. COMMISIONER INCOME TAX(CENTRAL), SURAT

In the result the grounds of appeal raised by the assessee in all three assessment years are allowed

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini

vii) Non-initiation of penalty under section 271B&271D of the Act ( in all three AYs),  (viii) Non-verification of loan availed from ManishbhaiSheladiya (in AY 2014-15 only). 4. The ld. PCIT recorded that the assessee was given opportunity of being heard on 05.03.2021 and on 12.03.2021, however, the assessee neither attended the hearing nor filed written submission

THE ITO, WARD-2(2)(4),, SURAT vs. M/S. PANKAJ ENKA PVT. LTD.,, SURAT

vii) The investor companies are registered with ROC and are active companies as per ROC records. (viii) PAN of Share applicants, Balance Sheet, profit and loss accounts. 12. Based on these documents and evidences, we note that assessing officer, during the assessment stage itself, has accepted M/s Rama Trade Link Pvt. Ltd., one of the ITA No.3050/AHD/2016

RAVI MAHEXA,DAMAN AND DIU vs. INCOME TAX OFFICER, WARD 5, , VAPI

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकर अपील सं./Ita Nos.193 To 195/Srt/2022 Assessment Years: (2015-16 To 2017-18) (Physical Hearing) Ravi Mahexa, Vs. Income Tax Officer, Ward-5, 7Th 14/55, Dilipnagar Near Dilip Nagar Vapi, Fortune Square, Floor, 8Th Floor & 9Th Floor, Ii, Ground, Daman, Daman – 396210, Daman & Diu (Ut) Chala Road, Vapi-396191 Ravi Mahexa Income Tax Officer, Daman 14/55, Dilipnagar Near Dilip Nagar Ward, Daman Jevanji Ground, Daman, Daman & Diu (Ut) - Apartment, Kavi Khabardar 396210 Road, Daman-396210 Vapi "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Apkpm1888H (Assessee) (Respondent) Assessee By Shri P. M. Jagasheth, Ca Respondent By Shri Minal Kamble, Sr. Dr Date Of Hearing 19/07/2023 Date Of Pronouncement 31/07/2023

vii) Part of the specified bank notes (Cessation of Liabilities) Bill, 2017 (vide Pb.12 to 14) 10. The ld Counsel, thus stated that provisions of section 69A of the Act are not applicable on deposits made post-demonetization since currency`s value guaranteed till December 31, 2016. For that ld Counsel relied on the Judgment of Coordinate Bench

RAVI MAHEXA,DAMAN AND DIU vs. INCOME TAX OFFICER, DAMAN WARD, DAMAN

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकर अपील सं./Ita Nos.193 To 195/Srt/2022 Assessment Years: (2015-16 To 2017-18) (Physical Hearing) Ravi Mahexa, Vs. Income Tax Officer, Ward-5, 7Th 14/55, Dilipnagar Near Dilip Nagar Vapi, Fortune Square, Floor, 8Th Floor & 9Th Floor, Ii, Ground, Daman, Daman – 396210, Daman & Diu (Ut) Chala Road, Vapi-396191 Ravi Mahexa Income Tax Officer, Daman 14/55, Dilipnagar Near Dilip Nagar Ward, Daman Jevanji Ground, Daman, Daman & Diu (Ut) - Apartment, Kavi Khabardar 396210 Road, Daman-396210 Vapi "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Apkpm1888H (Assessee) (Respondent) Assessee By Shri P. M. Jagasheth, Ca Respondent By Shri Minal Kamble, Sr. Dr Date Of Hearing 19/07/2023 Date Of Pronouncement 31/07/2023

vii) Part of the specified bank notes (Cessation of Liabilities) Bill, 2017 (vide Pb.12 to 14) 10. The ld Counsel, thus stated that provisions of section 69A of the Act are not applicable on deposits made post-demonetization since currency`s value guaranteed till December 31, 2016. For that ld Counsel relied on the Judgment of Coordinate Bench

RAVI MAHEXA,DAMAN AND DIU vs. INCOME TAX OFFICER, DAMAN WARD, DAMAN

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकर अपील सं./Ita Nos.193 To 195/Srt/2022 Assessment Years: (2015-16 To 2017-18) (Physical Hearing) Ravi Mahexa, Vs. Income Tax Officer, Ward-5, 7Th 14/55, Dilipnagar Near Dilip Nagar Vapi, Fortune Square, Floor, 8Th Floor & 9Th Floor, Ii, Ground, Daman, Daman – 396210, Daman & Diu (Ut) Chala Road, Vapi-396191 Ravi Mahexa Income Tax Officer, Daman 14/55, Dilipnagar Near Dilip Nagar Ward, Daman Jevanji Ground, Daman, Daman & Diu (Ut) - Apartment, Kavi Khabardar 396210 Road, Daman-396210 Vapi "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Apkpm1888H (Assessee) (Respondent) Assessee By Shri P. M. Jagasheth, Ca Respondent By Shri Minal Kamble, Sr. Dr Date Of Hearing 19/07/2023 Date Of Pronouncement 31/07/2023

vii) Part of the specified bank notes (Cessation of Liabilities) Bill, 2017 (vide Pb.12 to 14) 10. The ld Counsel, thus stated that provisions of section 69A of the Act are not applicable on deposits made post-demonetization since currency`s value guaranteed till December 31, 2016. For that ld Counsel relied on the Judgment of Coordinate Bench

DY. COMMISSIONER OF INCOME TAX, CENTRAL CIR.,2, SURAT vs. VIJAYBHAI MALABHAI BHARWAD, SURAT

In the result, ground no.2 raised by the assessee in ITA

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकर(खोज-और-ज"ती)अपील सं/It(Ss)A Nos.23 & 24/Srt/2021 (Assessment Years: 2012-13 & 2013-14) (Physical Hearing) The Dcit, Vs. Vijaybhai Malabhai Bharwad, Central Circle – 3, B-58, Chandramani Apartment, Surat. Udhana Magdalla Road, Surat - 395007 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aclpv4173C (Appellant) (Respondent) आयकर अपील सं./Ita No.118/Srt/2021 (Assessment Year: 2014-15) Vijaybhai Malabhai Bharwad, Vs. The Acit, B-58, Chandramani Apartment, Circle -1(2), Udhana Magdalla Road, Surat - 395007 Surat "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aclpv4173C (Appellant) (Respondent) आयकर अपील सं./Ita No.121/Srt/2021 (Assessment Year: 2014-15) The Dcit, Vs. Vijaybhai Malabhai Bharwad, Central Circle – 2, B-58, Chandramani Apartment, Surat. Udhana Magdalla Road, Surat - 395007 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aclpv4173C (Appellant) (Respondent) आयकर(खोज-और-ज"ती)अपील सं It(Ss)A Nos.90/Srt/2022 (Assessment Year: 2014-15) Vijaybhai Malabhai Bharwad, Vs. The Dcit, B-58, Chandramani Apartment, Central Circle – 3, Udhana Magdalla Road, Surat. Surat - 395007 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aclpv4173C (Appellant) (Respondent)

68 of the Act. The assessee has taken unsecured loan from several persons, therefore, each loan is discussed separately in the following paras after IT(SS)A Nos.23, 24/SRT/2021, 90/SRT/2022 & ITA Nos. 118, 121/SRT/2021 Vijaybhai Malabhai Bharwad considering the assessment order, remand report, submissions of the assessee alongwith paper book filed & rejoinder. i) Shri Manharbhai C. Patel: - The assessee obtained

VIJAYBHAI MALABHAI BHARWAD,SURAT vs. ASST. COMMISSIONER OF INCOME TAX, CIR.,-1(2), SURAT

In the result, ground no.2 raised by the assessee in ITA

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकर(खोज-और-ज"ती)अपील सं/It(Ss)A Nos.23 & 24/Srt/2021 (Assessment Years: 2012-13 & 2013-14) (Physical Hearing) The Dcit, Vs. Vijaybhai Malabhai Bharwad, Central Circle – 3, B-58, Chandramani Apartment, Surat. Udhana Magdalla Road, Surat - 395007 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aclpv4173C (Appellant) (Respondent) आयकर अपील सं./Ita No.118/Srt/2021 (Assessment Year: 2014-15) Vijaybhai Malabhai Bharwad, Vs. The Acit, B-58, Chandramani Apartment, Circle -1(2), Udhana Magdalla Road, Surat - 395007 Surat "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aclpv4173C (Appellant) (Respondent) आयकर अपील सं./Ita No.121/Srt/2021 (Assessment Year: 2014-15) The Dcit, Vs. Vijaybhai Malabhai Bharwad, Central Circle – 2, B-58, Chandramani Apartment, Surat. Udhana Magdalla Road, Surat - 395007 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aclpv4173C (Appellant) (Respondent) आयकर(खोज-और-ज"ती)अपील सं It(Ss)A Nos.90/Srt/2022 (Assessment Year: 2014-15) Vijaybhai Malabhai Bharwad, Vs. The Dcit, B-58, Chandramani Apartment, Central Circle – 3, Udhana Magdalla Road, Surat. Surat - 395007 "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aclpv4173C (Appellant) (Respondent)

68 of the Act. The assessee has taken unsecured loan from several persons, therefore, each loan is discussed separately in the following paras after IT(SS)A Nos.23, 24/SRT/2021, 90/SRT/2022 & ITA Nos. 118, 121/SRT/2021 Vijaybhai Malabhai Bharwad considering the assessment order, remand report, submissions of the assessee alongwith paper book filed & rejoinder. i) Shri Manharbhai C. Patel: - The assessee obtained

THE DY. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3,, SURAT vs. M/S. HAPPY HOME CORPORATION,, SURAT

Bench: Shri Rajpal Yadav & Shri Amarjit Singh

vii) (viii) CIT v. Sahibganj Electric Cables (P) Ltd. 115 ITR 0408 (Cal) Dr. Rajesh Sqrdana v. ITO 86 TTJ Oil 6 (Del) (IX) 7.2 Now, after discharging bf the primary onus by the assessee, the AO needs to verify the fulfillment; of the 3 conditions of Section 68 and the 1st condition therein is the Identity

THE DY. COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-3,, SURAT vs. M/S. HAPPY HOME CORPORATION,, SURAT

Bench: Shri Rajpal Yadav & Shri Amarjit Singh

vii) (viii) CIT v. Sahibganj Electric Cables (P) Ltd. 115 ITR 0408 (Cal) Dr. Rajesh Sqrdana v. ITO 86 TTJ Oil 6 (Del) (IX) 7.2 Now, after discharging bf the primary onus by the assessee, the AO needs to verify the fulfillment; of the 3 conditions of Section 68 and the 1st condition therein is the Identity

THE DY. COMMISSIONER OF INCOME TAX, CIRCLE-1(1)(2),, SURAT vs. M/S. KEJRIWAL INDUSTRIES LTD.,, SURAT

In the result, the appeal of the Revenue is dismissed

Bench: Shri Sandeep Gosain & Shri O.P.Meena

vii) at Page No. 10 of assessment order and submitted that DCIT, Circle-1(1)(2), Surat Vs. Kejriwal Industries Ltd.,/ITA No.1509/AHD/2016 for A.Y. 2011-12 Page 26 of 49 the AO has observed that the ACIT-TDS, Ranchi has categorically mentioned as finding of fact that all of the alleged lenders are family members or associates of either

THE ITO, WARD-1(1)(4),, SURAT vs. M/S. MEGA COLLECTION PVT. LTD.,, SURAT

In the result, appeal of the Revenue is dismissed

36,750 (19,75,000 Vekriya sumul dairy Road old balance + Surat. 1,53,62,000 new) 2 Jitendra ACVPV0312K 404, Shree Darshan 1,04,55,600 Vekariya Palace, Lal Darwaja Surat 3 Haresh AAVPV3325J 3-D, Ashwani appt. 76,44,750 (15,25,000 old Vekariya sumul dairy Road balance + 61,20,000) Surat. 4 Usha AIHPV9675R 404, Shree

DCIT, CIRCLE-1(1)(2), SURAT vs. J B SYNTEX PVT. LTD, SURAT

In the result, appeal filed by the Revenue is dismissed

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकर अपील सं./Ita No.140/Srt/2020 Assessment Year: (2011-12) (Physical Hearing) The Dcit, Vs. J. B. Syntex Pvt. Ltd., Circle – 1(1)(2), B-25, Guj. Eco. Textile Park, Surat N. H. No.8, Palsana, Surat – 394315. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Aabcj9389D (Appellant) (Respondent) Shri Vinod Kumar, Sr. Dr Appellant By Shri Rasesh Shah, Ca Respondent By Date Of Hearing 17/08/2023 Date Of Pronouncement 18/10/2023

vii) Confirmations (viii) Share applicant companies/Individual share applicants appeared during the assessment proceedings as well as remand proceedings, before the assessing officer. 10. The Ld. Counsel further submitted that the details of PAN, I.T. Acknowledgment, and the ROC details furnished by the share applicants with the ROC duly proved the identity of the share subscribers. He further pointed out that

DIVYABEN PRAFULCHANDRA PARMAR,SURAT vs. INCOME TAX OFFICER, WARD 1(3)(1), SURAT

In the result, appeal filed by the assessee is allowed

Bench: Shri Pawan Singh, Jm & Dr. A. L. Saini, Am आयकर अपील सं./Ita No.73/Srt/2023 (Assessment Year: 2014-15) (Physical Hearing) Divyaben Prafulchand Parmar, Vs. The Ito, Ward-1(3)(1), 1-2, Harikrishna Niwas, B/H Braham Surat. Kumari Ashram, Bhatar Road, Surat – 395017. "थायीलेखासं./जीआइआरसं./Pan/Gir No.: Acbpp9559Q (Appellant) (Respondent)

36 to 40) (vi) Contact notes issued by SEBI register, broker Nirmal Bang Securities Pvt. Ltd. w.r.t. sale of shares in BSE with payment of STT (vide PB. 41 to 47) (vii) Appellant’s SBI Bank account passbook for FY.2013-14 (vide PB. 48 to 50) (viii) Copy of NSDL statement of holding as on 31.03.2013 & 31.03.2014 (vide PB.51

THE ACIT, VAPI CIRCLE,, VAPI vs. M/S. N.R. AGARWAL INDUSTRIES LTD.,, VAPI

In the result the ground No

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini(Virtual Hearing) I.T.(Ss)A’S No.14,15,16/Ahd/2016, Ita’S No.1302,1303& 3032/Ahd/2016 Assessment Years: 2007-08, 09-10, 10-11; 2011-12,12-13& 2013-14 N.R.Agarwal Industries Ltd., Vs The Acit/Dcit, Circle-3, Plot No.169 To 169, Phase No.1, Surat. Gidc, Vapi. [Pan: Aaacn 7721 N] अपीलाथ" / Appellant ""थ"/Respondent

vii) The quantity of finished goods produced during the year which is clearly reflected in the books of accounts in quantity as well as value for all the three Units has been duly accepted. In such a case where output has been accepted there can be no adverse view related to use of input for the same

N.R. AGARWAL INDUSTRIES LTD.,,VAPI vs. THE ASSTT. COMMISSIONER OF INCOME TAX, CIRCLE-3,, SURAT

In the result the ground No

Bench: Shri Pawan Singh & Dr. Arjun Lal Saini(Virtual Hearing) I.T.(Ss)A’S No.14,15,16/Ahd/2016, Ita’S No.1302,1303& 3032/Ahd/2016 Assessment Years: 2007-08, 09-10, 10-11; 2011-12,12-13& 2013-14 N.R.Agarwal Industries Ltd., Vs The Acit/Dcit, Circle-3, Plot No.169 To 169, Phase No.1, Surat. Gidc, Vapi. [Pan: Aaacn 7721 N] अपीलाथ" / Appellant ""थ"/Respondent

vii) The quantity of finished goods produced during the year which is clearly reflected in the books of accounts in quantity as well as value for all the three Units has been duly accepted. In such a case where output has been accepted there can be no adverse view related to use of input for the same